With a shout-out to the National Freelancers Union, here’s an article with more specific information about the advantages and disadvantages of the new tax law. Give it a read. If you have an accountant, you should be talking to them about upcoming changes.
How the Tax Cuts and Jobs Act impacts freelancers
With the new laws now taking effect, you’ll notice both some positive and negative aspects related to individual and business taxes. Suffice it to say, the TCJA will impact you as a freelance professional.